Gerry's Feed
Nov 7, 2013

Twitter prices above range to raise at least $1.8 billion

By Olivia Oran and Gerry Shih

(Reuters) – Twitter Inc priced its initial public offering above its expected range to raise at least $1.8 billion, in a sign of strong investor demand for the most highly anticipated U.S. public float since Facebook Inc.

The microblogging network priced 70 million shares at $26, above the targeted range of $23 to $25, which had been raised once before.

Nov 5, 2013

Condo vote stirs passions over San Francisco’s haves and have-nots

SAN FRANCISCO, Nov 5 (Reuters) – The plans for the 8
Washington condominium project show 134 luxury units rising from
San Francisco’s famed waterfront – a gleaming testament to a
local economy in roaring good health.

But not everyone in this booming tech hub is cheering.

San Francisco voters on Tuesday will decide whether to
proceed with 8 Washington, the focus of a bitter, two-year-long
political tussle that has been framed, accurately or not, as a
proxy fight between the growing camps of the haves versus the
have-nots.

Nov 4, 2013

Twitter boosts IPO range amid strong investor demand

NEW YORK/SAN FRANCISCO (Reuters) – Twitter Inc raised the top end of its IPO price range by 25 percent and will close its books a day early, signaling strong demand for the most closely watched Silicon Valley debut since Facebook Inc last year.

Amid a red-hot market for initial public offerings and soaring equity markets, Twitter raised its price range to $23 to $25 per share on Monday, but kept the offering size at 70 million shares. That means it will raise up to $2 billion if an overallotment option of 10.5 million shares is exercised.

Nov 1, 2013

Some Wall Street brokerages push up Twitter IPO targets

SAN FRANCISCO (Reuters) – Morningstar on Friday joined three other brokerages in setting price targets for Twitter Inc well above its IPO price range, suggesting the stock has room to rise at least 30 percent.

The Wall Street brokerage on Friday set a price target of $26 a share, compared to the initial public offering’s $17 to $20 indicative range. Last month, Pivotal Research had set its price target for the social media micro-messaging company at $29 a share, SunTrust at $50 and Topeka Capital at $54.

Nov 1, 2013

Analysis – Facebook’s ad warning sounds a note of caution for Twitter

SAN FRANCISCO (Reuters) – Facebook Inc’s investors and other proponents of the social network like to say that it captures one of the greatest concentrations of human attention on the planet and thus offers a boundless opportunity for advertisers.

But Facebook Chief Financial Officer David Ebersman on Wednesday cast doubt on those assertions by suggesting that there may be a limit on how many ads Facebook can show users before they get turned off.

Nov 1, 2013

Facebook’s ad warning sounds a note of caution for Twitter

SAN FRANCISCO, Oct 31 (Reuters) – Facebook Inc’s
investors and other proponents of the social network like to say
that it captures one of the greatest concentrations of human
attention on the planet and thus offers a boundless opportunity
for advertisers.

But Facebook Chief Financial Officer David Ebersman on
Wednesday cast doubt on those assertions by suggesting that
there may be a limit on how many ads Facebook can show users
before they get turned off.

Oct 30, 2013

Twitter goes for more eye-catching look

SAN FRANCISCO (Reuters) – Twitter was born in 2006 as a stream of SMS text messages. Before going public in 2013, it’s now reveling in images.

The company tweaked its design Tuesday to favor image- and video-sharing by showing visual media directly within the Twitter timeline. Users previously had to click on a tweet to view the embedded multimedia.

Oct 30, 2013

LinkedIn’s conservative forecast gives pause to sizzling stock surge

SAN FRANCISCO, Oct 29 (Reuters) – LinkedIn Corp
issued a conservative revenue forecast through the end of the
year that damped a sizzling run in its stock price, taking the
shine off an upbeat performance at the professional social
network in the third quarter.

The company said it expected between $415 million and $420
million in revenue for the final three months of the year, lower
than the $438 million expected by analysts polled by Thomson
Reuters I/B/E/S. LinkedIn said fourth-quarter growth will not be
as impressive as a year ago when it rolled out new features.

Oct 29, 2013

LinkedIn’s revenue tops Street but gives conservative forecast

SAN FRANCISCO, Oct 29 (Reuters) – LinkedIn Corp
announced strong user growth and better-than-expected third
quarter revenue of $393 million on Tuesday, a 56 percent jump
from a year ago, but issued a conservative revenue forecast for
the fourth quarter and fiscal 2013.

LinkedIn said it expected between $415 million and $420
million in sales for the final three months, lower than the $438
million expected by analysts polled by Thomson Reuters I/B/E/S.
Its full-year revenue estimates, although revised upward to $1.5
billion, also fell slightly short of Wall Street’s expectations.

Oct 24, 2013

Twitter IPO pegs valuation at modest $11 billion

SAN FRANCISCO (Reuters) – Seeking to avoid a repeat of Facebook Inc’s much-maligned public debut, Twitter Inc revealed more modest ambitions on Thursday, saying its initial public offering would raise up to $1.6 billion and value the company at up to $10.9 billion.

The valuation was more conservative than the $15 billion that some analysts had expected for the social media phenomenon.